In episode 8 of Mike’s bonus series on the Property Investing Journey, Buyers’ Advocate Lisa Parker shares her top five tips on how to spot a spruiker, and avoiding the pitfalls of making hasty or pressured decisions when it comes to building a property portfolio.
With over seventeen years’ experience helping her clients create long term sustainable wealth through property, Lisa has prevented many investors from falling prey to slick sales techniques. Starting out in the property division of a financial planning company, Lisa has witnessed firsthand the tricks that spruikers employ to lure unsuspecting buyers into purchases that are counter to their long terms goals.
In this practical discussion, Lisa and Mike discuss clear indications that the deal on the table may not be all it’s cracked up to be. From the enticement of the “one day only” specials at investment seminars, to the appeal of brand new property developments, Lisa provides direct examples of what to look out for, and the possible ramifications of ignoring the red flags.
If you’re in the market for a property investment, or simply wanting to build your knowledge base, this podcast is essential listening to help you on your journey.
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Buyers’ Advocate Lisa Parker shares her top five tips on how to spot a spruiker, and avoiding the pitfalls of making hasty or pressured decisions when it comes to building a property portfolio. From the enticement of the “one day only” specials at investment seminars, to the appeal of brand new property developments, Lisa provides direct examples of what to look out for, and the possible ramifications of ignoring the red flags.
What we cover in this episode
- Lisa’s five tips on how to spot a spruiker
- The value, or otherwise, of seminars
- The red flags of the sales spiel
- The opportunity cost of a poor investment
- The true meaning of a growth corridor
“I have been able to intervene with quite a few people every year that have been on a track to be purchasing something that would probably financially cripple them for a really long time and do the opposite of what they are trying to achieve which is usually trying to grow a portfolio of property “ Lisa 1:38
“Not all referrals are bad, we’re both business people and our businesses do work with referrals, but not all referrals are created equal and often there’s a financial incentive to use a certain company, either disclosed or otherwise “ Mike 11:40
“A property spruiker is using those points to direct you to purchase an asset that may not grow in value for a very, very long time” Lisa 14:08
“The person has to ask themselves ‘Is this what I need to learn?’ Sometimes things are very enticing and exciting but you actually don’t need it“ Lisa 19:30
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